Mumbai: Sovereign gold price depreciated in Kerala after six days. Sovereign gold is priced at Rs 58,640, down by Rs 80. One gram gold is priced Rs 7330, lower by Rs 10. Yesterday, gold price gained by Rs 320 per 8 gram. Gold price gained by Rs 1400 per 8 gram in last six days.
In other major markets, gold prices experienced a modest increase on Tuesday. The cost of 24 carat gold is Rs.8025.3 per gram, reflecting an increase of Rs 440. The cost of 22 carat gold in India is 7358.3 per gram, a rise of Rs 420. The price fluctuation of 24 carat gold over the past week is recorded at -1.19%, while over the last month, the change stands at -2.22%. The current price of silver in India is 97700 per kg, reflecting an increase of 1200.per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened flat on Tuesday at Rs 78,230/10 gram, which is down by 0.08% or Rs 64. Silver March futures contracts were trading at Rs 90,240/kg, down by 0.3% or Rs 273. Despite volatility in the market, gold prices have risen by nearly Rs 1,200/10 grams in the last one month, however, silver prices have fallen by Rs 940/kg in the same period. On Monday, gold February futures contract settled at Rs 78,166 per 10 grams with a loss of 0.33% .
In global markets, price of spot gold rose 0.3% to $2,671.13 per ounce. U.S. gold futures gained 0.4% to $2,688.40. Price of spot silver added 0.2% to $29.67 per ounce and palladium rose 0.3% to $941.26. Platinum dropped 0.1% to $952.78. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.26% to 874.52 tonnes on Monday from 876.82 tonnes on Friday.
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